A large Ethereum investor, known for taking aggressive bets on the cryptocurrency's price, has suffered significant losses due to forced liquidation. Machi Big Brother, a prominent figure in the crypto market, had his entire ETH long position wiped out during the latest market downturn.
The estimated loss from this event is approximately $11 million, which adds to Machi's growing tally of liquidation losses on leveraged ETH positions. This is not an isolated incident, as previous episodes have seen him absorb losses exceeding $30 million on similar trades.